Jackson Financial Incorporation Class A (JXN)
NYSE:JXN
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Jackson Financial Incorporation
(NYSE:JXN)
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Rating:62Neutral
Price Target:
$115.00
▲(4.84% Upside)
Action:Reiterated
Date:06/16/26
The score is anchored by mixed financial performance—strong and steady cash generation and improved leverage, but weakened TTM profitability and revenue contraction. The earnings call was a notable positive due to reiterated 2026 free capital/capital return targets and strong capital/liquidity metrics, while technical signals and valuation (negative P/E, moderate yield) are more neutral.
Positive Factors
Strong cash generation
Consistent, sizable operating cash flow and close tracking free cash flow provide durable internal funding for capital returns, hedging programs and product development. Reliable cash conversion supports liquidity buffers and reduces reliance on volatile capital markets across economic cycles.
Negative Factors
Earnings deterioration
Sustained swings into GAAP losses and revenue contraction weaken long-term return profiles and can erode capital generation if persistent. Profit volatility complicates planning for guarantee costs, shareholder returns and reinvestment priorities across multi-year business cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent, sizable operating cash flow and close tracking free cash flow provide durable internal funding for capital returns, hedging programs and product development. Reliable cash conversion supports liquidity buffers and reduces reliance on volatile capital markets across economic cycles.
Read all positive factors
Jackson Financial Incorporation (JXN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.45B
Dividend Yield2.98%
Average Volume (3M)575.05K
Price to Earnings (P/E)―
Beta (1Y)1.37
Revenue Growth-20.54%
EPS Growth-652.89%
CountryUS
Employees3,060
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)-6.04
Shares Outstanding69,743,100
10 Day Avg. Volume641,105
30 Day Avg. Volume575,051
Financial Highlights & Ratios
PEG Ratio-2.71
Price to Book (P/B)0.75
Price to Sales (P/S)1.12
P/FCF Ratio1.30
Enterprise Value/Market Cap0.88
Enterprise Value/Revenue1.12
Enterprise Value/Gross Profit1.09
Enterprise Value/Ebitda-16.60
Forecast
1Y Price Target
$130.50Price Target Upside18.97% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)22.95
Revenue Forecast (FY)$7.65B
Jackson Financial Incorporation Business Overview & Revenue Model
Company Description
Jackson Financial Inc., incorporated in 2006 and based in Lansing, Michigan, specializes in offering a diverse range of annuity products primarily to individual investors across the United States. The company, which was previously known as Brooke ...
How the Company Makes Money
Jackson Financial primarily makes money by manufacturing and administering annuity products and earning spreads and fees associated with those contracts. (1) Net investment spread: Customer premiums are invested in a general account portfolio (e.g...
Jackson Financial Incorporation Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call conveyed predominantly positive operational and financial momentum: capital, liquidity, free cash flow, and diversified product sales (notably RILA and FIA) showed strong improvement and management reiterated confidence in meeting 2026 targets. Headwinds were largely identifiable, one-time, or related to market/portfolio timing — including a $101 million hedge loss concentrated in the variable annuity business, below-assumption limited partnership results, elevated claims from a data-cleanup initiative, and modest fee-income timing effects. On balance, the highlights (capital strength, double-digit earnings growth ex-notables, robust product sales, rising free cash flow, and strengthened investment capabilities via PPM/TPG) outweigh the lowlights, which are described as manageable or transitory.Positive Updates
Capital Strength and Liquidity
Total adjusted capital of $5.5 billion, up nearly 5% year-over-year; estimated RBC ratio ~554%, well above minimum target; holding company liquidity nearly $650 million; combined available liquidity (holdco cash + PCAPS + undrawn revolver) ~ $3 billion; operating company liquidity > $35 billion including $7 billion in cash and U.S. Treasuries.
Negative Updates
Notable Items and One-time Impacts on Earnings
Adjusted operating EPS was reduced by $0.90 of notable items; $0.48 unfavorable impact from limited partnership results (below the long-term 10% return assumption) and $0.42 unfavorable impact from a proactive deceased-policyholder identification initiative that raised claims in the quarter — these items modestly reduced both earnings and free capital generation.
Read all updates
Q1-2026 Updates
Positive
Negative
Capital Strength and Liquidity
Total adjusted capital of $5.5 billion, up nearly 5% year-over-year; estimated RBC ratio ~554%, well above minimum target; holding company liquidity nearly $650 million; combined available liquidity (holdco cash + PCAPS + undrawn revolver) ~ $3 billion; operating company liquidity > $35 billion including $7 billion in cash and U.S. Treasuries.
Read all positive updates
Company Guidance
The company reiterated full‑year 2026 guidance targeting at least $1.2 billion of free capital generation (assumes a 5% equity market return and rates on the forward curve) and capital returns to common shareholders of $900–$1.1 billion; in Q1 it generated $271 million of free capital and $342 million of after‑tax debt capital, produced $288 million of holding‑company free cash flow (up 35% YoY), returned $257 million to common shareholders, paid ~$325 million up to the holding company, and ended the quarter with total adjusted capital of $5.5 billion (up ~5% YoY), holding‑company liquidity of nearly $650 million and total available liquidity of ~ $3 billion (including a $900 million PCAPS); other key metrics included pretax adjusted operating earnings of $430 million ($503 million ex‑notables), adjusted operating EPS $5.15 ($5.94 ex‑notables), TTM adjusted operating ROE 14.8%, non‑variable annuity net inflows of $2.5 billion, retail annuity sales growth of 31% YoY with ~ $2 billion of RILA sales and >$21 billion RILA AUM, fixed/FIA sales of ~$756 million (vs. $174 million a year ago), an overall net hedge loss of $101 million for the quarter, estimated RBC ~554% (risk appetite 425%), PPM AUM ~$95 billion (Jackson $59B / third‑party $36B), and conservative portfolio metrics (market‑to‑book 95%, <1% below‑IG exposure, leverage ~19.8% excl. AOCI).Jackson Financial Incorporation Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
66
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.86B | 6.68B | 3.09B | 3.17B | 9.72B | 5.50B |
| Gross Profit | 6.04B | 5.71B | 2.39B | 2.47B | 8.91B | 4.99B |
| EBITDA | -397.00M | -14.00M | 1.12B | 1.07B | 7.83B | 4.39B |
| Net Income | -373.00M | 27.00M | 946.00M | 934.00M | 6.19B | 3.42B |
Balance Sheet | ||||||
| Total Assets | 339.54B | 352.59B | 338.45B | 330.25B | 314.98B | 375.56B |
| Cash, Cash Equivalents and Short-Term Investments | 54.84B | 53.47B | 44.06B | 43.11B | 46.79B | 54.17B |
| Total Debt | 4.57B | 4.61B | 4.38B | 4.03B | 4.37B | 4.05B |
| Total Liabilities | 329.64B | 342.24B | 328.47B | 319.92B | 305.61B | 364.49B |
| Stockholders Equity | 9.50B | 9.95B | 9.76B | 10.17B | 8.65B | 10.39B |
Cash Flow | ||||||
| Free Cash Flow | 5.21B | 5.76B | 5.79B | 5.31B | 5.21B | 5.68B |
| Operating Cash Flow | 5.21B | 5.76B | 5.79B | 5.31B | 5.21B | 5.68B |
| Investing Cash Flow | -9.23B | -7.76B | -7.09B | -592.00M | -1.37B | -1.30B |
| Financing Cash Flow | 5.68B | 3.94B | 2.37B | -6.33B | -2.16B | -3.77B |
Jackson Financial Incorporation Technical Analysis
Neutral
109.69
Price Trends
108.10
Negative
108.57
Negative
103.96
Positive
Market Momentum
0.17
Negative
48.66
Neutral
44.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JXN, the sentiment is Neutral. The current price of 109.69 is above the 20-day moving average (MA) of 106.04, above the 50-day MA of 108.10, and above the 200-day MA of 103.96, indicating a neutral trend. The MACD of 0.17 indicates Negative momentum. The RSI at 48.66 is Neutral, neither overbought nor oversold. The STOCH value of 44.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JXN.
Jackson Financial Incorporation Risk Analysis
Jackson Financial Incorporation disclosed 39 risk factors in its most recent earnings report. Jackson Financial Incorporation reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Jackson Financial Incorporation Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $8.79B | 11.56 | 32.28% | 1.59% | 5.70% | 61.07% | |
75 Outperform | $3.64B | 6.85 | 11.42% | 2.91% | 17.32% | -0.37% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $4.74B | 19.48 | 9.56% | 1.54% | 5.03% | -12.76% | |
66 Neutral | $3.43B | 16.08 | 2.46% | ― | -1.14% | 7.17% | |
66 Neutral | $7.11B | 4.11 | 16.79% | 3.93% | 8.45% | 21.80% | |
62 Neutral | $7.45B | -19.96 | -3.73% | 2.98% | -20.54% | -652.89% |
* Financial Sector Average
JXN
Jackson Financial Incorporation
106.81
24.93
30.44%
CNO
CNO Financial
50.83
13.93
37.76%
GNW
Genworth Financial
8.95
1.18
15.19%
LNC
Lincoln National
37.17
5.70
18.12%
PRI
Primerica
281.78
25.13
9.79%
FG
F&G Annuities & Life Inc
27.49
-3.09
-10.10%
Jackson Financial Incorporation Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Jackson Financial Issues $750 Million Senior Notes Offering
Positive
Jun 15, 2026
On June 15, 2026, Jackson Financial Inc. issued $750 million of unsecured 6.150% Senior Notes maturing January 15, 2037, with semi-annual interest payments beginning July 15, 2026, and callable at a make-whole premium before October 15, 2036, and ...
Executive/Board ChangesShareholder Meetings
Jackson Financial shareholders back board, pay and auditor
Positive
May 26, 2026
Jackson Financial Inc. reported the results of its May 21, 2026 annual meeting of shareholders, where investors elected all nominated directors to one-year terms, with strong support across the slate and broker non-votes recorded on certain items....
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Jackson Financial posts Q1 loss but strong cash generation
Positive
May 5, 2026
On May 6, 2026, Jackson Financial Inc. held its first-quarter 2026 earnings call, reporting a GAAP net loss of $435 million, or $6.24 per diluted share, alongside non-GAAP adjusted operating earnings of $361 million, or $5.15 per share. Excluding ...
Business Operations and StrategyExecutive/Board Changes
Jackson Financial Names New CEO for Asset Management
Positive
Apr 9, 2026
On April 9, 2026, Jackson Financial Inc. appointed Christopher A. Raub as President and Chief Executive Officer of its asset management subsidiary PPM America, Inc., where he will lead the executive team and oversee management of Jackson’s g...
Regulatory Filings and Compliance
Jackson Financial details prospectus for potential share resale
Neutral
Mar 27, 2026
On March 27, 2026, Jackson Financial Inc. filed a prospectus supplement with the U.S. Securities and Exchange Commission related to the potential resale of up to 4,715,554 shares of its common stock by an existing selling securityholder and its pe...
Business Operations and StrategyPrivate Placements and Financing
Jackson Financial Establishes New On-Demand Capital and Liquidity
Positive
Mar 19, 2026
On March 19, 2026, Jackson Financial Inc. arranged $900 million of new on-demand capital and liquidity through private placements of pre-capitalized trust securities issued by two Delaware statutory trusts, Grand River Funding Trust I and II, to q...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.